Real Madrid announce £129m bid to sign Arsenal target

Real Madrid have submitted a club-record offer to sign Julian Alvarez (NurPhoto via Getty)

Real Madrid have revealed that their €150 million (£129.4m) bid for Julian Alvarez has been rejected by Atletico Madrid.

Speaking before he was re-elected as Madrid’s president, Florentino Perez vowed to submit a club-record offer for an unnamed ‘great player’ this week.

‘On Tuesday or so, I’m going to make an offer to a major Champions League club for a great player. It would be the largest transfer fee Real Madrid ha...